On baisakh1st 2058, furniture costing Rs.60,000 was purchased by C company and estimated to use upto next 10 years after that it may fetch 10% as scrap value. On 1* Kartik of 2059,
further purchased for Rs.1.00.000 and estimates to use another 10 years after it may produce
R$ 20,000 as scrap value. You are required to draw furniture account using Straight line method up
to 2061 account are closed on31st Chaitra.
(Ans: Balance: Rs.1, 18,400​

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.